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JAMB Economics 2011 Question 32

Question 32

National Income

An indicator of growth in an economy over a period of time is the

  1. A.GDP gap
  2. B.GDP at factor cost
  3. C.GDP at market price
  4. D.GDP deflator.
Show the answer and explanation

Answer: C (GDP at market price)

Explanation

Economic growth is measured by the rise in the value of total output, GDP at market price, over time.